Read was good this morning. I have been doing the prep earlier than usual.
I thought this would be problematic because the market really shows it's hand between 8:00 AM EST - 9:00 AM EST.
The prep has actually been even more detailed because I am forced to speculate a bit based on the structure. This causes more thought and visualization and thus more accurate of a read.
The more I let the speculator in me operate the better I do it seems. When I started trading I thought is was about being right. That you could just learn the right technique and do it. This is not the case.
I do not think being right has anything to do with trading.
My struggle is with allowing myself to speculate when I am unsure but feel something is there. That is when the best trades happen.
There was a good weak extension top this morning and the price penetrated the 1105.00 area. Pretty much a vacuum down to 1083.00.
I would anticipate a significant downward correction from here but be careful because it's so obvious that there might be one more thrust up.
The prep is still in effect. Sometimes for days after it is posted.
I like my big moves to come out of nowhere and not be apparent. If the majority think something will happen it will not happen until they change their minds.
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